Banco del Estado de Chile

Banco del Estado de Chile publicly commits to gender equality and women’s empowerment.

As a member of the Glasgow Financial Alliance for Net Zero, the financial institution has set a target of net-zero financed emissions by 2050. In addition, the financial institution discloses the aggregate amount and share of finance it devotes to climate solutions while specifying what these solutions are.

Banco del Estado de Chile discloses the proportion of women in its total direct operations workforce for each employee category. The bank discloses the amount of finance it directs towards usually excluded groups and small and medium size enterprises. The financial institution has a grievance mechanism accessible to all workers to raise human rights complaints or concerns. Moreover, the financial institution has a publicly available policy statement which shows it is committed to respecting the health and safety of workers. The financial institution discloses a global tax strategy.

In terms of its approach to senior leadership accountability, there is no evidence that the financial institution links the remuneration of its executive or management teams to sustainability performance criteria. There is no evidence that Banco del Estado de Chile has at least 40% women on the ‘highest governing body’. In terms of gender equality, the bank also has an opportunity to reach at least 40% female representation in senior leadership positions. There is no evidence that the financial institution discloses the ratio of basic salary and remuneration of women to men in its total direct operations workforce for each employee category. There is also no evidence that the bank discloses the actions taken to address any pay gaps. The financial institution has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.

Banco del Estado de Chile could disclose interim emissions reduction targets at the group level, such as a 45% reduction in financed emissions by 2030. The financial institution has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. The bank could also align its clean energy, energy efficiency and renewable energy financing with internationally recognised frameworks. Regarding nature and biodiversity, no evidence was found that the financial institution is committed to minimising its negative impacts or financing regenerative solutions.

There is no evidence that Banco del Estado de Chile has a publicly available policy statement committing it to respect human rights laid out in the UNGPs and the ILO declaration on fundamental rights at work. The financial institution has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. There is no evidence that Banco del Estado de Chile discloses the proportion of its total direct operations workforce for each employee category by age group. There is no evidence that the bank discloses the amount of finance directed towards low-income developing countries.